Sigma Planning Corp Cuts Holdings in CMS Energy Co. (NYSE:CMS)

Sigma Planning Corp lowered its holdings in CMS Energy Co. (NYSE:CMS) by 17.9% in the 3rd quarter, Holdings Channel reports. The firm owned 33,733 shares of the utilities provider’s stock after selling 7,370 shares during the period. Sigma Planning Corp’s holdings in CMS Energy were worth $2,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC raised its position in CMS Energy by 23.9% in the 1st quarter. Empowered Funds LLC now owns 4,581 shares of the utilities provider’s stock worth $276,000 after buying an additional 885 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of CMS Energy during the first quarter valued at approximately $43,000. QRG Capital Management Inc. lifted its position in CMS Energy by 22.3% during the first quarter. QRG Capital Management Inc. now owns 10,132 shares of the utilities provider’s stock valued at $611,000 after purchasing an additional 1,846 shares during the period. US Bancorp DE boosted its holdings in CMS Energy by 1.8% in the first quarter. US Bancorp DE now owns 242,365 shares of the utilities provider’s stock worth $14,624,000 after purchasing an additional 4,251 shares during the last quarter. Finally, Entropy Technologies LP grew its position in CMS Energy by 119.3% in the 1st quarter. Entropy Technologies LP now owns 29,054 shares of the utilities provider’s stock worth $1,753,000 after purchasing an additional 15,806 shares during the period. 93.57% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CMS. Jefferies Financial Group began coverage on CMS Energy in a report on Tuesday, November 5th. They set a “buy” rating and a $76.00 price target on the stock. Mizuho downgraded CMS Energy from an “outperform” rating to a “neutral” rating and cut their price target for the company from $76.00 to $72.00 in a research note on Tuesday, October 15th. KeyCorp increased their price objective on shares of CMS Energy from $73.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Evercore ISI upgraded shares of CMS Energy to a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on shares of CMS Energy from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.29.

CMS Energy Stock Performance

NYSE CMS opened at $68.62 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.23 and a debt-to-equity ratio of 1.86. CMS Energy Co. has a twelve month low of $54.99 and a twelve month high of $72.40. The business has a 50-day moving average price of $69.82 and a 200-day moving average price of $65.00. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 2.67 and a beta of 0.41.

CMS Energy (NYSE:CMS) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.88 billion. CMS Energy had a net margin of 14.01% and a return on equity of 12.81%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $0.61 EPS. As a group, equities research analysts predict that CMS Energy Co. will post 3.33 EPS for the current fiscal year.

CMS Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $2.06 annualized dividend and a yield of 3.00%. This is a boost from CMS Energy’s previous quarterly dividend of $0.51. CMS Energy’s payout ratio is presently 58.86%.

About CMS Energy

CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and Enterprises. The Electric Utility segment is involved in the generation, purchase, transmission, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources.